The 4 p's of marketing

1. The Four P’s of
Marketing
Jordon Fitch

2. Marketing Mix
• Product
• Price
• Promotion
• Place

3. Product
• Can be either:
– A tangible good
– Intangible service
• That fulfills a need or
want of consumers

4. Price
• Price determinations impact:
– Profit margins
– Supply
– Demand
– Marketing strategy

5. TheWhy Behind the Price
• The price can neither be too low that the seller incurs losses, nor be
too high that the consumers cannot afford the product.
• The price of a product or a service depends on its demand, which is
determined by demand elasticity. A product is said to be elastic if
raising its price reduces the demand considerably and the
product/service is inelastic if its demand is not affected even after
raising the price.

6. Promotion
• Includes :
– Advertising
– Public relations
– Social media marketing
– Email marketing
– Search engine marketing
– Video marketing

7. Place
• Consists of:
– Where a company sells a product
– Can also include where a product
is placed in a store

8. The Use of 4 P’s
• Used by businesses to:
– Identify key factors such as:
• What consumers want
• How a product or service meets these needs
• How products or services are perceived
• How products or services stand out from competitors
• How products or services interact with customers

9. Two New Elements
• new developments in the
marketplace have added two
vital layers for marketers to
integrate into the marketing
mix: process and people.

10. Process
• Includes:
– Automation
– Systems
– Processes
• Help reduce cost while also
playing an integral role in
achieving customer
satisfaction and measuring
results.

11. People • Companies need to:
– Hire and train the right people to
provide superior and consistent
customer service.
• Employees need to be trained on
customer habits and behaviors
that humanize consumers using
customer personas.
• The primary messaging and
competitive advantage is also
important to communicate in
order to ensure that the voice of
the company stands united.

12. References
• https://www.forbes.com/sites/forbesagencycouncil/2018/01/03/evol
ution-of-the-four-ps-revisiting-the-marketing-
mix/#347817ef1120
• https://www.purelybranded.com/insights/the-four-ps-of-
marketing/